International Paper (IP) Options Chain

32.12+0.24 (+0.75%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Dec 18, 2026
Days to expiration: 69
Share price: $32.12
Put/call ratio (OI): 0.91
Put/call ratio (volume): 0.80
ATM implied volatility: 44.7%
Expected move: ±$6.24
Open interest (C / P): 3.52K / 3.19K

IP options summary

The IP options chain for the December 18, 2026 expiration lists 18 call and 13 put contracts, with 69 days until expiration. Open interest stands at 3,524 calls and 3,193 puts, a put/call ratio of 0.91, which is fairly balanced between calls and puts. At-the-money implied volatility near the $32.50 strike is 44.7%, which implies the market expects a move of about ±$6.24 (19.4%) in International Paper stock by expiration.

The most open interest sits at the $40.00 call (850 contracts) and the $35.00 put (791 contracts).

Summary generated from market data by MetaCap's automated system. Methodology

IP options chain · December 18, 2026

IP calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
—	—	—	—	—	—	17.50	0.00	0.95	0.50	105.5%	15	18
0	10	—	20.80	0.00	0.00	20.00	0.00	0.55	0.10	75.0%	3	296
—	—	—	—	—	—	22.50	0.10	0.25	0.15	53.5%	8	59
16	6	56.9%	6.80	6.80	7.70	25.00	0.25	0.45	0.35	52.3%	3	67
37	1	51.7%	4.90	4.60	5.60	27.50	0.60	0.90	0.80	49.7%	1	99
120	10	44.1%	3.00	2.85	3.60	30.00	1.25	1.55	1.35	45.6%	1	737
IP $32.12
168	7	42.3%	2.10	1.90	2.20	32.50	2.50	2.85	2.98	47.1%	2	603
570	14	42.3%	1.20	1.00	1.30	35.00	3.90	4.80	4.40	54.0%	16	791
393	2	42.9%	0.45	0.45	0.75	37.50	5.90	6.90	6.60	59.3%	5	214
850	23	42.8%	0.32	0.20	0.40	40.00	8.10	9.10	8.45	51.9%	1	120
179	2	50.6%	0.35	0.05	0.40	42.50	10.40	11.60	11.15	57.5%	1	59
385	3	57.5%	0.22	0.00	0.40	45.00	12.70	14.10	5.80	61.8%	47	79
98	1	57.3%	0.15	0.00	0.50	47.50	10.20	11.60	6.82	—	50	51
463	10	55.1%	0.12	0.00	0.25	50.00	—	—	—	—	—	—
0	2	25.0%	0.90	0.00	0.00	52.50	—	—	—	—	—	—
62	1	72.8%	0.08	0.00	0.50	55.00	—	—	—	—	—	—
4	4	77.3%	0.20	0.00	0.50	57.50	—	—	—	—	—	—
144	89	79.9%	0.10	0.00	0.45	60.00	—	—	—	—	—	—
9	1	92.4%	0.45	0.00	0.60	65.00	—	—	—	—	—	—
26	5	102.5%	0.28	0.00	0.70	70.00	—	—	—	—	—	—

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the IP put/call ratio?

For the December 18, 2026 expiration, the IP put/call ratio based on open interest is 0.91 (3,193 puts vs 3,524 calls), and 0.80 based on today's volume. A ratio above 1 means more puts than calls.

What is IP's implied volatility?

At-the-money implied volatility for IP options expiring December 18, 2026 is about 44.7%, an annualized estimate of how much the market expects International Paper stock to move.

How many IP option expiration dates are there?

IP has 14 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.